Kuzey Boru Anonim Sirketi Income Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5,287	5,177	2,954	1,479	226.42
Revenue Growth (YoY)	2.14%	75.21%	99.72%	553.35%	112.69%
Cost of Revenue	4,058	4,145	2,036	1,141	177.59
Gross Profit	1,230	1,032	918.25	338.54	48.83
Selling, General & Admin	581.36	544.96	270.57	125.93	30.29
Research & Development	33.2	13.44	-	-	-
Other Operating Expenses	18.54	81.48	9.38	4.78	2.37
Operating Expenses	633.1	639.88	279.95	130.72	32.66
Operating Income	596.66	391.8	638.3	207.83	16.17
Interest Expense	-428.32	-96.67	-134.6	-63.91	-10.18
Interest & Investment Income	73.95	321.59	25.52	1.04	0.08
Currency Exchange Gain (Loss)	-583.79	-107.84	-35.91	-4.84	-1.73
Other Non Operating Income (Expenses)	693.36	153.72	-197.74	57.12	-1.26
EBT Excluding Unusual Items	351.87	662.59	295.57	197.24	3.07
Gain (Loss) on Sale of Investments	-0.11	-	-0.24	-	-
Legal Settlements	3.37	-3.99	-5.07	-0.28	-
Pretax Income	355.13	658.6	290.26	196.96	3.07
Income Tax Expense	-288.47	-190.13	-26.25	-5.04	-2.68
Net Income	643.59	848.74	316.51	202	5.76
Net Income to Common	643.59	848.74	316.51	202	5.76
Net Income Growth	-24.17%	168.15%	56.69%	3409.01%	134.16%
Shares Outstanding (Basic)	600	600	480	360	360
Shares Outstanding (Diluted)	600	600	480	360	360
Shares Change (YoY)	-	25.00%	33.33%	-	275.00%
EPS (Basic)	1.07	1.41	0.66	0.56	0.02
EPS (Diluted)	1.07	1.41	0.66	0.56	0.02
EPS Growth	-24.17%	114.52%	17.52%	3409.18%	-37.56%
Free Cash Flow	-1,904	-2,083	-194.02	-157.98	-51.56
Free Cash Flow Per Share	-3.17	-3.47	-0.40	-0.44	-0.14
Dividend Per Share	-	-	0.088	-	-
Gross Margin	23.26%	19.93%	31.08%	22.88%	21.56%
Operating Margin	11.29%	7.57%	21.61%	14.05%	7.14%
Profit Margin	12.17%	16.40%	10.71%	13.66%	2.54%
Free Cash Flow Margin	-36.01%	-40.24%	-6.57%	-10.68%	-22.77%
EBITDA	805.01	528.89	695.5	240.78	20.76
EBITDA Margin	15.22%	10.22%	23.54%	16.28%	9.17%
D&A For EBITDA	208.36	137.09	57.2	32.95	4.59
EBIT	596.66	391.8	638.3	207.83	16.17
EBIT Margin	11.29%	7.57%	21.61%	14.05%	7.14%
Advertising Expenses	-	-	-	4.9	1.59

Source: S&P Global Market Intelligence. Standard template. Financial Sources.